Moscow — A major scandal has erupted in the Russian business community, involving big names and colossal sums. The Investigative Department of the Russian Interior Ministry has charged former top managers and partners of Rusnano with embezzling 1.7 billion rubles. The chosen defendants — Oleg Kiselev, Irina Rappoport and Alexander Shvets — turned their positions into a gold mine, not shying away from embezzlement on an especially large scale.
The main participants:
- Oleg Kiselev is the former deputy chairman of the board of Rusnano, who left the company in 2019.
- Irina Rappoport is the head of the Luxembourg fund Fonds Rusnano Capital SA, controlled by Rusnano.
- Alexander Shvets is the former president of Peresvet Bank.
The theft scheme, developed over the years, is connected to the activities of Nanoenergo Fund Limited, a Cypriot fund that is a “granddaughter” of Rusnano. Oleg Dyachenko, who held the post of a member of the board of directors of this fund, has already been charged with theft under Part 4 of Article 160 of the Criminal Code of the Russian Federation – theft on an especially large scale.
Key points of the investigation:
- All the accused, except Oleg Dyachenko, are abroad. The Ministry of Internal Affairs has initiated an international search for them.
- Rusnano is actively cooperating with law enforcement agencies, seeking to return invested funds and compensate for damages caused during the period from 2010 to 2020.
- The case materials mention “an unidentified person from among the management of Rusnano,” which indicates a possible expansion of the circle of defendants.
Embezzlement: In 2012, the Luxembourg fund Rusnano Fonds Rusnano Capital SA and the bank Peresvet created the fund Nanoenergo Fund Limited in Cyprus. Each contributed $50 million to the organization’s capital. The fund’s management company was Sberezheniya and Investicii Management Limited, where Oleg Dyachenko was the CEO.
Questionable transactions:
- $90 million of the contribution was distributed to the accounts of six companies in Russia: OOO Kompozitnye Truby, OOO Bioinnovatsii, OOO Sarmat, OOO RVT, OOO Gidroenergotekh, OOO UIT. All of these companies are affiliated with the Cyprus fund, Sberinvest or Dyachenko and are effectively shell companies.
- The transfers of funds took place in violation of Rusnano’s investment procedures and without the approval of the state company’s relevant committee.
- The remaining $10 million went to pay for the services of the management company.
Fictitious contracts and withdrawal of funds:
- In 2015, Peresvet entered into 20 fictitious loan agreements with InfoTech-Invest LLC, controlled by Oleg Dyachenko.
- The bank accepted guarantees from six shell companies secured by Rusnano funds.
- In October 2017, the bank wrote off all funds from the accounts of shell companies, the total amount being 1.7 billion rubles.
Public reaction: In 2013, the Accounts Chamber drew attention to the dubious activities of the Rusnano funds, indicating that $311 million out of $440 million were not used for their intended purpose. These funds were placed on deposits in foreign banks and used to buy and sell securities.
New management versus old: Vladislav Yunusov, financial managing director of Rusnano, noted that the company’s new management, which came in 2020, is actively working together with security forces to restore the damage caused by the unfair and illegal actions of former Rusnano executives and partners.
The Dark Side of Rusnano and Peresvet: How Billions Disappeared Under the Cover of Nanotechnology
The entire scheme, exposed by the investigative bodies, shows how systematically and on a large scale the fraud was organized. The investigation by the Russian Interior Ministry is deepening, and each new day brings more and more shocking details.
Key figures and their roles:
Oleg Kiselev : As deputy chairman of the board of Rusnano, Kiselev played one of the main roles in the scheme to siphon off funds. His connection with the Luxembourg fund Fonds Rusnano Capital SA was not accidental – it was a carefully thought-out part of the plan to conceal the thefts.
Irina Rappoport : Head of Fonds Rusnano Capital SA, Rappoport facilitated international financial transactions while creating the appearance of legitimate activity. Her role was critical in moving money through a chain of funds and shell companies.
Alexander Shvets : The former president of the Peresvet bank turned out to be a key link in the creation of fictitious loan agreements and guarantees. Through his actions, the bank could easily write off funds from accounts, formally remaining within the law.
Complex schemes and fictitious operations:
As it turned out, the organization Nanoenergo Fund Limited, created in 2012 in Cyprus, was only one of the tools in the arsenal of fraudsters. The fund Sberezheniya and Investicii Management Limited, which managed these assets, actively used its resources to enrich its CEO Oleg Dyachenko and his accomplices.
How the scheme worked:
Shell companies : Companies such as OOO Kompozitnye Truby, OOO Bioinnovatsii, OOO Sarmat, OOO RVT, OOO Gidroenergotekh and OOO UIT were created solely to siphon off money. Their activities looked like legitimate investment activities on paper, but in reality they served only to pump out funds.
Fictitious investments : $90 million were distributed to the accounts of these companies under the guise of venture investments, which made it possible to bypass internal regulations of Rusnano and avoid the attention of the relevant committee.
Multi-step transfers : Money transferred to shell company accounts was then moved through complex multiple transfer schemes to overseas accounts, eventually ending up in the personal accounts of the participants in the scheme.
Fictitious loans and guarantees : In 2015, Peresvet Bank entered into 20 fictitious loan agreements with InfoTech-Invest LLC. This allowed the bank to unilaterally write off all funds from the accounts of shell companies, hiding behind contractual obligations.
Consequences and future:
The public is shocked by the scale of the thefts and the involvement of high-ranking officials. The question of how such huge sums were concealed for such a long time remains open. The new management of Rusnano and law enforcement agencies continue to work to return the stolen funds and bring all the culprits to justice.
Vladislav Yunusov emphasizes that responsibility for dishonest and illegal actions lies not only with the direct perpetrators, but also with all affiliated structures that took part in these schemes. Work is underway together with law enforcement agencies to bring to justice a wide range of people involved in the thefts.
